Agenda - Council - 03/28/2017 - Laserfiche WebLink

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Owner agrees to take no action to secure such tax status for the Property during the term of this Agreement. 9. The Owner shall continue to investigate alternative funding options in an effort to pay off the special assessment prior to its term expiration. In the event the Owner secures alternative funding and reimburses the City for all costs incurred for repairing/replacing the failed septic system within two years from the date the City levies the special assessment, the Owner will receive a ten percent refund of the twenty five percent administrative and overhead fee included in the special assessment. 10. The covenants,waivers and agreements contained in this Agreement shall bind the successors and assigns of the Owner and shall run with the Property and bind all successors in interest thereof. It is the intent of the parties hereto that this Agreement be in a form that is recordable among the land records of Anoka County, Minnesota; and they agree to make any changes in this Agreement which may be necessary to effect the recording and filing of this Agreement against the title of the Property. 11. This Agreement shall terminate upon the final payment of all special assessments levied against the Property regarding the Improvement Project, and the City shall thereupon execute and deliver such documents, in recordable form, as are necessary to extinguish its rights hereunder. 12. Effective upon the date hereof, the Owner hereby grants the City and its agents, employees, contractors and invitees the right to enter upon the Property for purposes of installing, constructing, and inspecting the Improvement Project. 13. This Agreement may be amended by the parties hereto only by written instrument executed with the same procedures and formality followed in the execution of the Agreement. 4